Why did Trump conceal his tax records?

[shunyadragon]

Source: https://www.nytimes.com/interactive/2020/09/27/us/donald-trump-taxes.html?action=click&module=Spotlight&pgtype=Homepage

LONG-CONCEALED RECORDS SHOW TRUMP’S CHRONIC LOSSES AND YEARS OF TAX AVOIDANCE

The Times obtained Donald Trump’s tax information extending over more than two decades, revealing struggling properties, vast write-offs, an audit battle and hundreds of millions in debt coming due.

By Russ Buettner, Susanne Craig and Mike McIntire

Sept. 27, 2020

• 1701

Donald J. Trump paid $750 in federal income taxes the year he won the presidency. In his first year in the White House, he paid another $750.

He had paid no income taxes at all in 10 of the previous 15 years — largely because he reported losing much more money than he made.

As the president wages a re-election campaign that polls say he is in danger of losing, his finances are under stress, beset by losses and hundreds of millions of dollars in debt coming due that he has personally guaranteed. Also hanging over him is a decade-long audit battle with the Internal Revenue Service over the legitimacy of a $72.9 million tax refund that he claimed, and received, after declaring huge losses. An adverse ruling could cost him more than $100 million.
The tax returns that Mr. Trump has long fought to keep private tell a story fundamentally different from the one he has sold to the American public. His reports to the I.R.S. portray a businessman who takes in hundreds of millions of dollars a year yet racks up chronic losses that he aggressively employs to avoid paying taxes. Now, with his financial challenges mounting, the records show that he depends more and more on making money from businesses that put him in potential and often direct conflict of interest with his job as president.

The New York Times has obtained tax-return data extending over more than two decades for Mr. Trump and the hundreds of companies that make up his business organization, including detailed information from his first two years in office. It does not include his personal returns for 2018 or 2019. This article offers an overview of The Times’s findings; additional articles will be published in the coming weeks.

The returns are some of the most sought-after, and speculated-about, records in recent memory. In Mr. Trump’s nearly four years in office — and across his endlessly hyped decades in the public eye — journalists, prosecutors, opposition politicians and conspiracists have, with limited success, sought to excavate the enigmas of his finances. By their very nature, the filings will leave many questions unanswered, many questioners unfulfilled. They comprise information that Mr. Trump has disclosed to the I.R.S., not the findings of an independent financial examination. They report that Mr. Trump owns hundreds of millions of dollars in valuable assets, but they do not reveal his true wealth. Nor do they reveal any previously unreported connections to Russia.

THE PRESIDENT’S TAXES

Charting An Empire: A Timeline Of Trump’s Finances18 Revelations From a Trove of Trump Tax RecordsAn Editor’s Note on the Trump Tax Investigation

In response to a letter summarizing The Times’s findings, Alan Garten, a lawyer for the Trump Organization, said that “most, if not all, of the facts appear to be inaccurate” and requested the documents on which they were based. After The Times declined to provide the records, in order to protect its sources, Mr. Garten took direct issue only with the amount of taxes Mr. Trump had paid.

“Over the past decade, President Trump has paid tens of millions of dollars in personal taxes to the federal government, including paying millions in personal taxes since announcing his candidacy in 2015,” Mr. Garten said in a statement.

With the term “personal taxes,” however, Mr. Garten appears to be conflating income taxes with other federal taxes Mr. Trump has paid — Social Security, Medicare and taxes for his household employees. Mr. Garten also asserted that some of what the president owed was “paid with tax credits,” a misleading characterization of credits, which reduce a business owner’s income-tax bill as a reward for various activities, like historic preservation.

The tax data examined by The Times provides a road map of revelations, from write-offs for the cost of a criminal defense lawyer and a mansion used as a family retreat to a full accounting of the millions of dollars the president received from the 2013 Miss Universe pageant in Moscow.

© Copyright Original Source

[Mountain Man]

Why did Trump conceal his tax records?

Because it's none of our business.

/thread

[shunyadragon]

Because it's none of our business.

/thread

Tax evasion is of interest and concern of the public and the Internal Revenue Service

[Mountain Man]

Tax evasion is of interest and concern of the public and the Internal Revenue Service

There is no evidence that Trump is guilty of tax evasion. If he was, the IRS would have busted him a long time ago. This is another nothing-burger. Careful you don't bite your tongue trying to chew it.

[shunyadragon]

There is no evidence that Trump is guilty of tax evasion. If he was, the IRS would have busted him a long time ago. This is another nothing-burger. Careful you don't bite your tongue trying to chew it.

No tongue biting involved he is under investigation in New York for this. Trump has a vast legal support to force the gears of justice to move slowly.

[Starlight]

Why would Trump try to conceal his taxes?

• Because paying less tax than a minimum wage worker doesn't look good
• Because making constant huge business losses doesn't look good
• Because tax evasion and fraud doesn't look good
• Because huge outstanding loans doesn't look good

All of the above.

[Gondwanaland]

Source: https://www.nytimes.com/interactive/2020/09/27/us/donald-trump-taxes.html?action=click&module=Spotlight&pgtype=Homepage

LONG-CONCEALED RECORDS SHOW TRUMP’S CHRONIC LOSSES AND YEARS OF TAX AVOIDANCE

The Times obtained Donald Trump’s tax information extending over more than two decades, revealing struggling properties, vast write-offs, an audit battle and hundreds of millions in debt coming due.

By Russ Buettner, Susanne Craig and Mike McIntire

Sept. 27, 2020

• 1701

Donald J. Trump paid $750 in federal income taxes the year he won the presidency. In his first year in the White House, he paid another $750.

He had paid no income taxes at all in 10 of the previous 15 years — largely because he reported losing much more money than he made.

As the president wages a re-election campaign that polls say he is in danger of losing, his finances are under stress, beset by losses and hundreds of millions of dollars in debt coming due that he has personally guaranteed. Also hanging over him is a decade-long audit battle with the Internal Revenue Service over the legitimacy of a $72.9 million tax refund that he claimed, and received, after declaring huge losses. An adverse ruling could cost him more than $100 million.
The tax returns that Mr. Trump has long fought to keep private tell a story fundamentally different from the one he has sold to the American public. His reports to the I.R.S. portray a businessman who takes in hundreds of millions of dollars a year yet racks up chronic losses that he aggressively employs to avoid paying taxes. Now, with his financial challenges mounting, the records show that he depends more and more on making money from businesses that put him in potential and often direct conflict of interest with his job as president.

The New York Times has obtained tax-return data extending over more than two decades for Mr. Trump and the hundreds of companies that make up his business organization, including detailed information from his first two years in office. It does not include his personal returns for 2018 or 2019. This article offers an overview of The Times’s findings; additional articles will be published in the coming weeks.

The returns are some of the most sought-after, and speculated-about, records in recent memory. In Mr. Trump’s nearly four years in office — and across his endlessly hyped decades in the public eye — journalists, prosecutors, opposition politicians and conspiracists have, with limited success, sought to excavate the enigmas of his finances. By their very nature, the filings will leave many questions unanswered, many questioners unfulfilled. They comprise information that Mr. Trump has disclosed to the I.R.S., not the findings of an independent financial examination. They report that Mr. Trump owns hundreds of millions of dollars in valuable assets, but they do not reveal his true wealth. Nor do they reveal any previously unreported connections to Russia.

THE PRESIDENT’S TAXES

Charting An Empire: A Timeline Of Trump’s Finances18 Revelations From a Trove of Trump Tax RecordsAn Editor’s Note on the Trump Tax Investigation

In response to a letter summarizing The Times’s findings, Alan Garten, a lawyer for the Trump Organization, said that “most, if not all, of the facts appear to be inaccurate” and requested the documents on which they were based. After The Times declined to provide the records, in order to protect its sources, Mr. Garten took direct issue only with the amount of taxes Mr. Trump had paid.

“Over the past decade, President Trump has paid tens of millions of dollars in personal taxes to the federal government, including paying millions in personal taxes since announcing his candidacy in 2015,” Mr. Garten said in a statement.

With the term “personal taxes,” however, Mr. Garten appears to be conflating income taxes with other federal taxes Mr. Trump has paid — Social Security, Medicare and taxes for his household employees. Mr. Garten also asserted that some of what the president owed was “paid with tax credits,” a misleading characterization of credits, which reduce a business owner’s income-tax bill as a reward for various activities, like historic preservation.

The tax data examined by The Times provides a road map of revelations, from write-offs for the cost of a criminal defense lawyer and a mansion used as a family retreat to a full accounting of the millions of dollars the president received from the 2013 Miss Universe pageant in Moscow.

© Copyright Original Source

Because it's nobody's business?

And no, the returns do not show 'tax avoidance'. They show that he has good accountants. Tax avoidance is illegal. Nothing in those taxes show anything illegal. They just show that he hired accountants who know • Edited by a Moderator •.

Moderated By: QuantaFille

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[shunyadragon]

Because it's nobody's business?

It is the business of the public and IRS, and at least New York.where hearings are presently being held concerning Trump's Taxes.

And no, the returns do not show 'tax avoidance'. They show that he has good accountants. Tax avoidance is illegal. Nothing in those taxes show anything illegal. They just show that he hired accountants who know • Edited by a Moderator •

Like all Trumpster Dumpsters you are dodging the unethical, immoral and illegal enterprises of Trump.

The hearing in New York where his son is forced to testify now tells a different story. Trump's changes in the tax law over whelming accelerated the national debt, and did not benefit the Middle Class.

[CivilDiscourse]

Source: https://www.nytimes.com/interactive/2020/09/27/us/donald-trump-taxes.html?action=click&module=Spotlight&pgtype=Homepage

LONG-CONCEALED RECORDS SHOW TRUMP’S CHRONIC LOSSES AND YEARS OF TAX AVOIDANCE

The Times obtained Donald Trump’s tax information extending over more than two decades, revealing struggling properties, vast write-offs, an audit battle and hundreds of millions in debt coming due.

By Russ Buettner, Susanne Craig and Mike McIntire

Sept. 27, 2020

• 1701

Donald J. Trump paid $750 in federal income taxes the year he won the presidency. In his first year in the White House, he paid another $750.

He had paid no income taxes at all in 10 of the previous 15 years — largely because he reported losing much more money than he made.

As the president wages a re-election campaign that polls say he is in danger of losing, his finances are under stress, beset by losses and hundreds of millions of dollars in debt coming due that he has personally guaranteed. Also hanging over him is a decade-long audit battle with the Internal Revenue Service over the legitimacy of a $72.9 million tax refund that he claimed, and received, after declaring huge losses. An adverse ruling could cost him more than $100 million.
The tax returns that Mr. Trump has long fought to keep private tell a story fundamentally different from the one he has sold to the American public. His reports to the I.R.S. portray a businessman who takes in hundreds of millions of dollars a year yet racks up chronic losses that he aggressively employs to avoid paying taxes. Now, with his financial challenges mounting, the records show that he depends more and more on making money from businesses that put him in potential and often direct conflict of interest with his job as president.

The New York Times has obtained tax-return data extending over more than two decades for Mr. Trump and the hundreds of companies that make up his business organization, including detailed information from his first two years in office. It does not include his personal returns for 2018 or 2019. This article offers an overview of The Times’s findings; additional articles will be published in the coming weeks.

The returns are some of the most sought-after, and speculated-about, records in recent memory. In Mr. Trump’s nearly four years in office — and across his endlessly hyped decades in the public eye — journalists, prosecutors, opposition politicians and conspiracists have, with limited success, sought to excavate the enigmas of his finances. By their very nature, the filings will leave many questions unanswered, many questioners unfulfilled. They comprise information that Mr. Trump has disclosed to the I.R.S., not the findings of an independent financial examination. They report that Mr. Trump owns hundreds of millions of dollars in valuable assets, but they do not reveal his true wealth. Nor do they reveal any previously unreported connections to Russia.

THE PRESIDENT’S TAXES

Charting An Empire: A Timeline Of Trump’s Finances18 Revelations From a Trove of Trump Tax RecordsAn Editor’s Note on the Trump Tax Investigation

In response to a letter summarizing The Times’s findings, Alan Garten, a lawyer for the Trump Organization, said that “most, if not all, of the facts appear to be inaccurate” and requested the documents on which they were based. After The Times declined to provide the records, in order to protect its sources, Mr. Garten took direct issue only with the amount of taxes Mr. Trump had paid.

“Over the past decade, President Trump has paid tens of millions of dollars in personal taxes to the federal government, including paying millions in personal taxes since announcing his candidacy in 2015,” Mr. Garten said in a statement.

With the term “personal taxes,” however, Mr. Garten appears to be conflating income taxes with other federal taxes Mr. Trump has paid — Social Security, Medicare and taxes for his household employees. Mr. Garten also asserted that some of what the president owed was “paid with tax credits,” a misleading characterization of credits, which reduce a business owner’s income-tax bill as a reward for various activities, like historic preservation.

The tax data examined by The Times provides a road map of revelations, from write-offs for the cost of a criminal defense lawyer and a mansion used as a family retreat to a full accounting of the millions of dollars the president received from the 2013 Miss Universe pageant in Moscow.

© Copyright Original Source

Because he's Rich, and its known that the democrats would go over it with a fine-tooth comb to find anything they could manufacture outrage on. I mean, Harry Reid straight up lied in order to manufacture outrage against Romney. The more important question is given the Democrats propensity to do so, why would ANY republican candidate release their tax returns?

[shunyadragon]

By the way many people suffered financially and many went bankrupt in the trail of financial disaster of Trump's incompetence. or maybe intentional manipulation on his part. Bankruptcy only benefits corporation going under, and of course Trump when he ducks out before the House of Cards fall.

[Gondwanaland]

It is the business of the public

It's no business of the public

and IRS,

The IRS already had them, genius.

and at least New York.where hearings are presently being held concerning Trump's Taxes.

And?

Like all Trumpster Dumpsters

Not sure what that means. If it means a Trump supporter, I'm sorry you live in such a binary world that you think those who disagree with you automatically support Trump. Didn't vote for him last election, not voting for him this election.

you are dodging the unethical, immoral and illegal enterprises of Trump.

The hearing in New York where his son is forced to testify now tells a different story. Trump's changes in the tax law over whelming accelerated the national debt, and did not benefit the Middle Class.

Nothing to do with the topic.

[Starlight]

Looking further through the various information that's come out today, it appears Trump is broke, and that he owes over $1b in outstanding loans to foreign entities due soon.

I wonder what foreign powers will do with the leverage they have over him through this huge debt?

[rogue06]

Because it's nobody's business?

And no, the returns do not show 'tax avoidance'. They show that he has good accountants. Tax avoidance is illegal. Nothing in those taxes show anything illegal. They just show that he hired accountants who know • Edited by a Moderator •.

Moderated By: QuantaFille

You've been warned recently about your language. You know better.

***If you wish to take issue with this notice DO NOT do so in this thread.***
Contact the forum moderator or an administrator in Private Message or email instead. If you feel you must publicly complain or whine, please take it to the Padded Room unless told otherwise.

Tax evasion is illegal. Tax avoidance is what you get with good accountants.

[Reepicheep]

it appears Trump is broke, and that he owes over $1b in outstanding loans to foreign entities due soon.

Who can forget Trump's famous poem, "Ode to Debt", which he composed live on CNBC on May 5, 2016:

I am the king of debt.
I do love debt.
I love debt and I love playing with it.

although, personally, I think the poem would have been greatly improved if Trump had repeated the first line at the end of the poem, therefore emphasizing the poem's theme that Trump IS the King of Debt.

Below is my revised and much improved version of Trump's poem:


ODE TO DEBT
by Donald J. Trump.

I am the king of debt.
I do love debt.
I love debt and I love playing with it.
I am the king of debt.

[Maranatha]

It is the business of the public and IRS, and at least New York.where hearings are presently being held concerning Trump's Taxes.

Like all Trumpster Dumpsters you are dodging the unethical, immoral and illegal enterprises of Trump.

The hearing in New York where his son is forced to testify now tells a different story. Trump's changes in the tax law over whelming accelerated the national debt, and did not benefit the Middle Class.

It is funny watching your people salivate over this hoax.

Russia has to be in there somewhere.....oh ya, he made money from the misses universe thingy in Russia. Shocking!

Maybe you can roll impeachment into a two pronged strategery. Impeach because the IRS didn't find anything illegal, and impeach because he presented a justice for a vote, like the constitution says.

You will win over AOC and her minions. Are you an AOC minion? Just askin.